Green Energy
Sky News:
Warning Of 'Food Price Riots In The UK'
Peter Hoskins, senior business producer
A senior economist at the worldwide bank HSBC has warned of civil unrest in Britain if food prices continue to soar.
Speaking on Jeff Randall Live, senior global economist Karen Ward cautioned that the UK could experience the kind of food riots seen in other countries.
"Even in the developed world I think we have very, very low wage growth, so people aren't getting more in their pay packet to compensate them for food and energy, and I think we could see social unrest certainly in parts of the developed world and the UK as well."
She went on to highlight the link between high food prices and the escalating cost of crude oil.
"More and more we are seeing that some of these foodstuffs are actually substitutes for energy itself, particularly biofuels. So I think the energy markets are a significant contributor to these food price gains."
The comments come as the United Nations warned the cost of food is now at the highest level for 21 years and set to rise further.
Food costs have gone up for eight months in a row, with the National Farmers Union forecasting the trend will continue for the rest of 2011.
The cost of basic foodstuffs has been caused by increasing demand and extreme weather destroying crops and has been partly to blame for the unrest sweeping the arabic world.
Rising prices contributed to riots across North Africa and the Middle East in the past several months that have toppled leaders in Egypt and Tunisia.
Wheat has nearly doubled in price over the past six months and rising demand has caused the cost of sugar to rise by 14% over the past 12 months.
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Green Energy
Sky News:
Warning Of 'Food Price Riots In The UK'
Peter Hoskins, senior business producer
A senior economist at the worldwide bank HSBC has warned of civil unrest in Britain if food prices continue to soar.
Speaking on Jeff Randall Live, senior global economist Karen Ward cautioned that the UK could experience the kind of food riots seen in other countries.
"Even in the developed world I think we have very, very low wage growth, so people aren't getting more in their pay packet to compensate them for food and energy, and I think we could see social unrest certainly in parts of the developed world and the UK as well."
She went on to highlight the link between high food prices and the escalating cost of crude oil.
"More and more we are seeing that some of these foodstuffs are actually substitutes for energy itself, particularly biofuels. So I think the energy markets are a significant contributor to these food price gains."
The comments come as the United Nations warned the cost of food is now at the highest level for 21 years and set to rise further.
Food costs have gone up for eight months in a row, with the National Farmers Union forecasting the trend will continue for the rest of 2011.
The cost of basic foodstuffs has been caused by increasing demand and extreme weather destroying crops and has been partly to blame for the unrest sweeping the arabic world.
Rising prices contributed to riots across North Africa and the Middle East in the past several months that have toppled leaders in Egypt and Tunisia.
Wheat has nearly doubled in price over the past six months and rising demand has caused the cost of sugar to rise by 14% over the past 12 months.
-
Doug Ross: Third World Starvation, Brought to You by Ethanol and the Global Warming Scam Artists™ The "Arab Spring" -- violent revolts in Egypt, Libya, Syria and Yemen -- can be traced back to rising food prices, food shortages and imminent starvation....
- Why Americans Think The Academic Elite Are Morons
The American economy is now strong enough to withstand Middle East turmoil and the Japanese nuclear crisis. Only a big rise in the price of oil could stop it now.Those are the findings of an Associated Press survey of leading economists, who are increasingly...
-
CNBC: Jobless Claims Unexpectedly Rise; Inflation Pressure Grows claims for unemployment benefits unexpectedly rose last week, bouncing back above the key 400,000 level, while core producer prices clumbed faster than expected in March, government reports...
- Next Up. . .
BBC: Thousands protest against high food prices in Delhi The protest has been organised by trade unionsThousands of people have gathered in the Indian capital, Delhi, to take part in a rally to protest against rising food prices and unemployment.A steady...
-
Newsmax: North Korean Embassies Appeal for Food Tuesday, 22 Feb 2011 By Jim Meyers North Korea has ordered its embassies and diplomatic offices around the world to issue new appeals for food aid as the communist nation is once against facing starvation....